Development land Margate
There are many plus factors for you the buyer on this property. First it is in the main street, great position on the North end of town and it has easy access to the sea which is just down the road from the site. Second the site has been leveled off. Third you can build to six storeys in height here. Fourth, the asking price is less than half of what the seller paid for it in 1997.
The Zoned General Res 2. Now called Residential High Impact 3 which means you can not only cover the property by 50%, your FAR is 0.75, you can build to six storeys in height here as well. Hotel or multi-unit residential development will be allowed here. You could create off street parking with residential above, all units will have sea views then on the upper floors 3 to 6. There is provision for shop on site but it is not only for business use.
There is a strong buying sentiment in Margate right now, we need stock, we don''t have it to sell. There are are new buyers in town not asking too many questions, just show me the stock. I have met three new developers recently so the market is changing, we came out of buyers market into sellers market so if you don''t get in now this will be another lost opportunity.
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